News

Investors Dominate Inner City Apartments

Recent sales record shows that very few recent inner Brisbane unit buyers are owner residents. Also, most investors are from either interstate or overseas.

10% of the new apartment currently being sold across inner Brisbane are selling to an owner resident. By comparison, the last census found that 30% of inner Brisbane’s units were owner occupied.

Chart 1 also shows that companies (most have SMSF in their title) are also buying new inner Brisbane units. Overall, 90% of the new units across inner Brisbane are selling to investors.

Chart 2 shows that most investors are from interstate or overseas. Just a third currently reside locally.

Given the issues FIRB is having tracking overseas buying. It wouldn’t surprise us to find a higher overseas funded investor component than the official records suggest. 40% of the investors in our sample have Chinese surnames.

The recent surge in inner city unit demand does not reflect a fundamental change in Australian society. Society doesn’t change that fast. Investor behaviour towards property has, aided by town planning that promotes speculative apartments over long term owner occupier housing.

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We engaged Michael to sell our home after meeting him when he sold us an investment property. We are most grateful for your professionalism, commitment & for moving us so quickly & for keeping us so thoroughly informed.

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- Higgins – Toowong

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Buying and selling a house is stressful and the agent involved can increase or decrease the stress depending on how they approach each issue. You have a good balance and that’s why I would recommend you to friends.

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A sincere thank you Michael for the result you achieved for me and the way you handled the sale process of my family’s home.

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- Damian & Clare

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